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Citigroup plans 0% buffer notes due 2010 linked to iShares MSCI Emerging Markets fund
By E. Janene Geiss
Philadelphia, March 31 - Citigroup Funding Inc. plans to price 0% buffer notes due 2010 linked to the iShares MSCI Emerging Markets Index Fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the final fund level is at least the initial level, the payout at maturity will be par plus about 300% of any fund gain, subject to a maximum payout that will be between 31% and 34% of par.
The exact participation rate and cap will be set at pricing.
If the fund declines by up to 15%, the payout will be par. Investors will lose 1% for each 1% that the fund declines beyond 15%.
The notes will price in April.
The issuer has applied to list the notes on the American Stock Exchange under the symbol "BYL."
Citigroup Global Markets Inc. is the agent.
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